Woodward, Inc. (WWD) To Go Ex-Dividend on May 22nd

Woodward, Inc. (NASDAQ:WWD) announced a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Investors of record on Thursday, May 22nd will be paid a dividend of 0.28 per share by the technology company on Thursday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, May 22nd.

Woodward has raised its dividend by an average of 15.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Woodward has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Woodward to earn $7.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 15.7%.

Woodward Stock Performance

NASDAQ:WWD opened at $213.53 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19. The business has a fifty day simple moving average of $183.14 and a two-hundred day simple moving average of $181.11. Woodward has a 1 year low of $145.98 and a 1 year high of $213.71. The company has a market capitalization of $12.68 billion, a P/E ratio of 35.77, a P/E/G ratio of 2.37 and a beta of 1.24.

Woodward (NASDAQ:WWD) last released its earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.25. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The business had revenue of $883.63 million during the quarter, compared to the consensus estimate of $838.61 million. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Woodward will post 6.15 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Thomas G. Cromwell sold 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $194.36, for a total value of $641,388.00. Following the transaction, the chief operating officer now directly owns 15,477 shares in the company, valued at approximately $3,008,109.72. This represents a 17.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregg C. Sengstack sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $187.86, for a total transaction of $864,156.00. Following the completion of the transaction, the director now owns 17,450 shares in the company, valued at approximately $3,278,157. This trade represents a 20.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,700 shares of company stock worth $5,751,700 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Woodward

A hedge fund recently bought a new stake in Woodward stock. Woodline Partners LP purchased a new position in shares of Woodward, Inc. (NASDAQ:WWD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,174 shares of the technology company’s stock, valued at approximately $2,039,000. Institutional investors own 81.18% of the company’s stock.

Analyst Ratings Changes

WWD has been the subject of a number of recent research reports. StockNews.com raised Woodward from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their target price on Woodward from $175.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $187.00 price target on Woodward and gave the stock a “hold” rating in a report on Monday, April 14th. UBS Group raised their price target on Woodward from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Truist Financial raised their price target on Woodward from $205.00 to $209.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Woodward currently has an average rating of “Moderate Buy” and an average price target of $195.00.

About Woodward

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.